Good morning, Quartz readers!
What to watch for today and over the weekend
The annual Fed conference gets underway in Jackson Hole, Wyoming. Federal Reserve chair Janet Yellen and European Central Bank president Mario Draghi will both deliver high-profile speeches, but the elephant in the room is whether Yellen will continue for a second term (paywall). Donald Trump said he is considering nominating her for another term, but White House economic policy director Gary Cohn is also a contender.
Hurricane Harvey hits Texas… The intensifying cyclone, now strengthened to a Category 2 storm, is expected to make landfall late Friday or early Saturday in the heart of refinery country. Refineries have been closed and offshore platforms evacuated, hiking gas and oil prices. Flooding is feared from Corpus Christi to the Louisiana coast, and up to 100 miles inland.
… and Floyd Mayweather hits Conor McGregor. The bout in Vegas between the undefeated US champion and the Irish mixed martial artist—in his first pro-boxing match—is expected to rake in record-breaking revenue (paywall) for a pay-per-view event.
While you were sleeping
Samsung’s heir apparent got five years in prison. Lee Jae-Yong, the 49-year-old vice chairman of the company, was sentenced to jail on corruption charges. Lee allegedly funneled $38 million in bribes to foundations run by a close friend of South Korea’s then-president Park Geun-hye. The scandal led to Park’s impeachment earlier this year.
Grab put $100 million towards beating Uber in Myanmar. Uber’s Southeast Asian rival will invest the money over the next three years to try to win the ride-hailing battle in a country where internet use has exploded since people were granted access only a few years ago. Uber also launched in Yangon earlier this year.
Qantas presented a challenge to Airbus and Boeing. Australia’s national carrier said it hopes to launch the world’s longest flight by 2022—a 20-hour, 17,000 km Sydney-to-London route. It said it just needs Airbus or Boeing to build a plane that can fly that sort of distance. Qantas also reported the second-highest annual profit (paywall) in its 97-year history.
France’s former anti-drugs agency boss was accused of drug trafficking. Francois Thierry, head of the drug-fighting Octris agency from 2010 to 2016, was put under formal investigation for aiding and abetting narco-traffickers, including alleged complicity in buying, transporting, and exporting drugs.
A Thai court issued an arrest warrant for former prime minister Yingluck Shinawatra. The leader was deposed in a 2014 military coup, but failed to appear in court over charges of her mishandling of a rice subsidy scheme. The judge ruled the court would issue an arrest warrant and seize her bail bond—sources say she has already fled the country.
Quartz obsession interlude
Max de Haldevang on the mysterious circumstances surrounding nine dead Russian diplomats. “Being a Russian diplomat seems to be bad for your health. When Migayas Shirinsky, ambassador to Sudan, was found dead in his residency’s swimming pool in Khartoum on Aug. 23, he became the ninth Russian foreign official to surprisingly pass away since January 2016.” Read more here.
Matters of debate
Companies should prioritize investor welfare, not value. It would enable them to consider critical social and ethical issues.
All lives matter to self-driving cars. Germany wants to ban autonomous vehicles from prioritizing age, race, or gender in a collision.
Eavesdropping makes us better people. A large part of our development and early education is made possible by listening in on others’ conversations.
Surprising discoveries
Google made a cuddly knitwear robot that watches YouTube videos. Researchers eventually want “Blossom” to help kids with autism.
Japan has a rent-a-dad service… Tokyo’s Heart Project offers everything from “parent” to “bridesmaid” surrogates.
… and a ninja-studies major. The focus is on historical research, not practical training.
Americans stopped watching TV and porn for the solar eclipse. Netflix and Pornhub traffic showed a noticeable drop.
The driest place on Earth is currently covered in flowers. It only rains every five to seven years in Chile’s Atacama desert.
Our best wishes for a productive day. Please send any news, comments, short-term father figures, and desert flowers to hi@qz.com. You can follow us on Twitter for updates throughout the day or download our apps for iPhone and Android.